The gene synthesis market size is projected to reach US$ 14.7 billion by 2031 from US$ 2.62 billion in 2023. The market is expected to register a CAGR of 24.7% during 2023–2031. Increase in investments & funds for gene synthesis, rising numbers of biotech-based start-up companies, and growth in medical science in emerging nations are likely to remain key trends in the market.
Gene Synthesis Market Analysis
Precision medicine is using an individual’s genomic information to offer targeted treatment to the individual. Gene synthesis technology is a key precision medicine technology, increasing its accuracy, speed, and cost. Gene Synthesis can rapidly sequence large sections of a person's genome and aids in formulating precision medicine. Advances in whole genome sequencing allowed for identifying genes required in disease studies, and biomarkers that specify disease severity or susceptibility to treatment are gradually being illustrated. The continued detection of new genes and biomarkers specific to disease subtypes and individual patients is essential for translation into personalized medicine to estimate both disease risk and response to application.
Gene Synthesis Market Overview
Increase in investments & funds for gene synthesis, rising numbers of start-up companies, and technological advancements are key drivers for the increase of the market. However, the growth of the market is restricted by various factors, such as a lack of skilled professionals and long approval processes. Gene synthesis is an established market in some of regions such as Japan, whereas, with some recent progress in countries such as India, China, Indonesia, and Taiwan, it is expected that a major chunk of the demand will be generated from the above-mentioned countries. Additionally, factors such as increasing emphasis on industry players in Japan and India, and funds and grants in the country like China are likely to propel the growth of the market.
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Gene Synthesis Market: Strategic Insights
Market Size Value in US$ 3,991.23 Million in 2017 Market Size Value by US$ 107,797.82 Million by 2025 Growth rate CAGR of 28.7% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
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Gene Synthesis Market: Strategic Insights
| Market Size Value in | US$ 3,991.23 Million in 2017 |
| Market Size Value by | US$ 107,797.82 Million by 2025 |
| Growth rate | CAGR of 28.7% from 2018-2025 |
| Forecast Period | 2018-2025 |
| Base Year | 2018 |
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Gene Synthesis Market Drivers and Opportunities
Mounting Neurodegenerative Diseases and Speech Disorders to Favor Market
The increasing number of new entrants conducting gene synthesis procedures is a major factor driving the growth of the global gene synthesis market. The start-ups are proliferating due to support from accelerators to promote and commercially exploit biological and engineering applications. The supportive government of respective geographies facilitating adequate funds for research and developments in the biotechnology sectors is helpful for start-up companies to seek basic investments for setting up a new venture. Propelling incidences of phenological disorder, articulation difficulties, and shuttering are major drivers of global speech and language disorders market share.
Growth in Medical Science in Emerging Nations
Most of the market players focus on rising markets such as Asia Pacific due to an increase in the prevalence of various diseases in the region. In India, medical science has grown rapidly, and big steps have been taken in the past few decades. In India, the treatment has become so popular and common that people from other countries are coming here to get themselves treated. Scientific research and development are growing at a faster pace in China, majorly in the fields of applied sciences, such as sustainable energy, nanotechnology, and stem cells. The development and construction of synthetic microbial consortia, supported by the Chinese 973 Synthetic Biology program, focuses to address the fundamental tasks in engineering natural microbial consortia and reconstructing the consortia for industrial demands. These are becoming a major reason for the market growth in the forecast period.
Gene Synthesis Market Report Segmentation Analysis
Key segments that contributed to the derivation of the gene synthesis market analysis are products & services, applications, and end users.
- Based on Products & Services, the gene synthesis market is divided into services, consumables, and software. The services segment held a larger market share in 2023.
- By application, the market is segmented into research & development activities, diagnostics, therapeutics, and others. The research & development activities segment held the largest share of the market in 2023.
- In terms of end users, the market is segmented into academic & research institutes, biotech & pharmaceutical companies, diagnostic laboratories, and others. The academic & research institutes segment held a significant share of the market in 2023.
Gene Synthesis Market Share Analysis by Geography
The geographic scope of the XYZ market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. The growth in North America is characterized by an increase in the demand for gene synthetic techniques from biopharmaceutical and biotechnology companies, the presence of key market players, and extensive R&D conducted by various academic and research institutes. Moreover, increasing focus on advanced method incorporation in healthcare, government and private initiatives for the promotion of precision medicine, and massive funds from the government are further expected to stimulate the growth and contribute to exceptional revenue generation for the gene synthesis market in North America. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Gene Synthesis Market Report Scope
Gene Synthesis Market News and Recent Developments
The Gene Synthesis market is evaluated by gathering qualitative and quantitative data from primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Gene Synthesis market are listed below:
- GenScript Biotech Corporation, one of the world's leading providers of life-science research tools and services, and Multiply Labs, a robotics company developing industry-leading automated manufacturing systems to produce individualized drugs, announced a strategic partnership around the automation of the cell isolation phase of cell therapy manufacturing, reducing the complexity of this laborious process.. (Source: GenScript Biotech Corporation, Press Release, April 2024)
- GenScript Biotech Corporation ("GenScript"), a global leader in life science research tools and services, is pleased to declare the expansion of its collaboration with Roche. GenScript and Roche have expanded their efforts and collaboration to drive innovation across the portfolio. Especially in medical diagnostics products. (Source: GenScript Biotech Corporation, Press Release, April 2024)
Gene Synthesis Market Report Coverage and Deliverables
The “Gene Synthesis Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Gene Synthesis market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Gene Synthesis market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Gene Synthesis market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the Gene Synthesis market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Products & Services , Application End Users and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
Based on geography, the Gene Synthesis market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). North America is the largest contributor to the growth of the global ENT devices market. Asia Pacific is expected to register the highest CAGR in the ENT devices market during 2023–2031
Increase in investments & funds for gene synthesis, followed by rising numbers of biotech-based start-up companies largely drive the Gene Synthesis market size
The Gene Synthesis market majorly consists of the players such Eurofins Scientific; Thermo Fisher Scientific Inc.; GenScript ; BIONEER CORPORATION; Integrated DNA Technologies ; ATUM ; Twist Bioscience ; BioCat GmbH; OriGene Technologies, Inc.; and GENEWIZ.
The gene synthesis market size is projected to reach US$ 14.7 billion by 2031
The market is expected to register a CAGR of 24.7% during 2023–2031
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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